Canadian firm joins Lebanese conglomerate with solar power plans

Ontario-based Hydro Power Technologies Inc (OTCMKTS:PYBX) announced on Thursday that it has agreed to team up with a renewables-focused conglomerate that is close to winning contracts for three “major” solar projects in Lebanon.

The Canadian company has entered into a joint venture agreement with Middle East Solutions and Technologies for Energy and Environment (MESTEE), which submitted initial bids in June 2018 as part of a competitive process for said projects. The government of Lebanon has placed MESTEE in the shortlist for the contracts, according to the announcement.

The three solar projects are expected to be realised in the period 2021-2026.

Hydro Power Technologies is a green hydropower technology specialist that entered the solar power field earlier this year when it agreed to buy a major stake in Italian modular solar panel systems supplier Zuc Energy Srl.

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